Question: 22. Problem 4.22 (Balance Sheet Analysis) Complete the balance sheet and sales information using the following rinancial data: Total assets turnover: 1.2x Days sales outstanding:

 22. Problem 4.22 (Balance Sheet Analysis) Complete the balance sheet and

22. Problem 4.22 (Balance Sheet Analysis) Complete the balance sheet and sales information using the following rinancial data: Total assets turnover: 1.2x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. $ 84,000 Cash Accounts receivable Inventories Fixed assets Total assets Sales Balance Sheet Current liabilities Long-term debt Common stock Retained earnings $420,000 Total liabilities and equity Cost of goods sold 105,000 $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!